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2026Q2 2026Q1

CRD #151717 Review Period: 2026Q1 Filing: Direct 606 filer

SOFI SECURITIES LLC (CRD #151717) — Quarterly Rule 606 vs. Amended Rule 605 Competing Market Review

Name: SOFI SECURITIES LLC (CRD #151717) 2026Q1 Execution Quality Benchmark
Creator: Execution Reports
License: https://executionreports.com/methodology

• 0 COMPETING-MARKET EXCEPTIONS DETECTED (>1.0 BPS THRESHOLD)

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Primary Routed Venues (606)

1. CITADEL SECURITIES LLC(162.2%)

2. Virtu Americas, LLC(150.5%)

3. Jane Street Capital(133.8%)

Top routed order shares

Disclosed PFOF / Rebates

$1,880,321.52

Avg 23.67 ¢

Competing-Market Exceptions

0 of 0

Scored cells with >1.0 bps shortfall

Data Coverage

0 mo • 0 builds

Amended 605 builds

Rule 5310.09 Exceptions Preview (0 Total)

All scored order size and routing buckets where venue net price improvement trailed mix-adjusted peers by > 1.0 bps.

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No statistically significant competing-market shortfalls exceeding 1.0 bps were detected in this quarter’s scored cells.

FINRA Rule 5310.09 Review Packet

SOFI SECURITIES LLC

CRD Number: 151717 • Quarter: 2026Q1 • Generated: Wed, 14 Oct 2026 20:21:35 GMT

Methodology: exq-2

Status: CLOSED QUARTER

Resolved Rule 606 Source Filings

Author / Clearing Firm	CRD	Variant / Context	Version	SHA-256 Digest	Source Document
SOFI	151717	SOFI	V1	99ef5e77b1e08d0a0f141ecca202b1d3df56cab782b198604936b47995578636	Download XML ↗

1. SEC Rule 606(a)(1) Order Routing

Quarterly non-directed customer order routing shares and net PFOF/rebates by section and venue.

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Month	Section	Execution Venue	605 Reporter	Route %	Market %	Mkt Limit %	Non-Mkt %	PFOF Mkt (¢/100)	PFOF Limit (¢/100)
202601	options	Dash Financial Technologies	Unmapped	27.5%	26.4%	27.2%	27.7%	33.24 ¢	30.57 ¢
202601	options	CITADEL SECURITIES LLC	CDRG	21.8%	23.1%	21.3%	22.0%	36.40 ¢	31.71 ¢
202601	options	Jane Street Capital	JNST	20.8%	18.8%	21.1%	20.7%	39.92 ¢	31.22 ¢
202601	options	Global Execution Brokers LP	Unmapped	14.4%	15.3%	15.1%	13.9%	38.60 ¢	30.17 ¢
202601	options	Wolverine Execution Services, LLC	Unmapped	8.0%	8.7%	7.5%	8.3%	32.66 ¢	34.95 ¢
202601	options	Matrix Executions, LLC / Simplex Trading, LLC	Unmapped	5.8%	6.7%	6.0%	5.8%	28.91 ¢	29.25 ¢
202601	options	WATERSHED	Unmapped	1.8%	0.9%	1.9%	1.6%	38.95 ¢	27.48 ¢
202601	other_stocks	Virtu Americas, LLC	NITE	25.8%	14.2%	14.5%	11.5%	17.96 ¢	16.90 ¢
202601	other_stocks	Hudson River Trading (HRT)	HRTF	19.5%	21.6%	21.6%	25.7%	17.99 ¢	15.87 ¢
202601	other_stocks	GTS SECURITIES LLC	Unmapped	16.2%	21.6%	20.9%	20.9%	17.98 ¢	16.02 ¢
202601	other_stocks	CITADEL SECURITIES LLC	CDRG	15.5%	15.8%	16.1%	28.5%	17.97 ¢	16.23 ¢
202601	other_stocks	Jane Street Capital	JNST	12.7%	12.7%	12.8%	11.9%	17.91 ¢	15.47 ¢
202601	other_stocks	G1 Execution Services, LLC	ETMM	6.7%	9.1%	9.2%	0.0%	17.99 ¢	16.88 ¢
202601	other_stocks	Canaccord Genuity Securities	Unmapped	3.6%	5.0%	5.0%	1.4%	18.00 ¢	8.09 ¢
202601	sp500	Virtu Americas, LLC	NITE	25.5%	14.1%	13.8%	11.9%	18.00 ¢	19.45 ¢
202601	sp500	Hudson River Trading (HRT)	HRTF	19.4%	21.8%	22.1%	23.6%	18.00 ¢	19.09 ¢
202601	sp500	GTS SECURITIES LLC	Unmapped	17.2%	21.7%	20.7%	20.6%	18.00 ¢	19.26 ¢
202601	sp500	CITADEL SECURITIES LLC	CDRG	14.7%	15.5%	16.7%	28.7%	18.00 ¢	20.28 ¢
202601	sp500	Jane Street Capital	JNST	12.2%	12.7%	14.7%	12.8%	18.00 ¢	19.23 ¢
202601	sp500	G1 Execution Services, LLC	ETMM	7.0%	9.1%	7.1%	0.0%	18.00 ¢	18.00 ¢
202601	sp500	Canaccord Genuity Securities	Unmapped	3.9%	5.0%	4.9%	2.4%	18.00 ¢	19.64 ¢
202602	options	Dash Financial Technologies	Unmapped	25.6%	28.1%	25.3%	25.8%	36.33 ¢	30.07 ¢
202602	options	CITADEL SECURITIES LLC	CDRG	22.9%	20.2%	22.3%	23.3%	31.00 ¢	29.79 ¢
202602	options	Global Execution Brokers LP	Unmapped	20.2%	21.4%	20.3%	20.1%	32.37 ¢	30.70 ¢
202602	options	Jane Street Capital	JNST	15.9%	14.7%	16.8%	15.5%	31.30 ¢	28.08 ¢
202602	options	Wolverine Execution Services, LLC	Unmapped	7.9%	8.7%	7.4%	8.2%	35.95 ¢	33.25 ¢
202602	options	Matrix Executions, LLC / Simplex Trading, LLC	Unmapped	5.7%	5.2%	6.0%	5.5%	40.36 ¢	28.70 ¢
202602	options	WATERSHED	Unmapped	1.8%	1.7%	1.9%	1.7%	35.78 ¢	28.42 ¢
202602	other_stocks	Virtu Americas, LLC	NITE	24.4%	12.5%	12.4%	12.5%	17.97 ¢	15.73 ¢
202602	other_stocks	Hudson River Trading (HRT)	HRTF	16.9%	17.9%	18.6%	24.9%	17.95 ¢	16.30 ¢
202602	other_stocks	GTS SECURITIES LLC	Unmapped	16.5%	22.0%	21.7%	19.9%	17.94 ¢	15.92 ¢
202602	other_stocks	CITADEL SECURITIES LLC	CDRG	15.5%	15.7%	15.4%	28.9%	17.94 ¢	17.16 ¢
202602	other_stocks	Jane Street Capital	JNST	15.3%	16.2%	16.6%	12.3%	17.97 ¢	16.51 ¢
202602	other_stocks	G1 Execution Services, LLC	ETMM	7.9%	10.8%	10.3%	0.0%	17.98 ¢	16.91 ¢
202602	other_stocks	Canaccord Genuity Securities	Unmapped	3.6%	4.9%	4.9%	1.6%	17.98 ¢	15.88 ¢
202602	sp500	Virtu Americas, LLC	NITE	23.3%	12.4%	14.3%	12.1%	18.00 ¢	20.51 ¢
202602	sp500	GTS SECURITIES LLC	Unmapped	17.7%	22.1%	23.7%	21.1%	18.00 ¢	19.59 ¢
202602	sp500	Hudson River Trading (HRT)	HRTF	16.6%	17.9%	19.9%	23.6%	18.00 ¢	19.80 ¢
202602	sp500	CITADEL SECURITIES LLC	CDRG	15.1%	15.7%	18.0%	27.7%	18.00 ¢	20.09 ¢
202602	sp500	Jane Street Capital	JNST	14.9%	16.0%	14.3%	13.3%	18.00 ¢	20.12 ¢
202602	sp500	G1 Execution Services, LLC	ETMM	8.4%	10.9%	5.9%	0.0%	18.00 ¢	18.00 ¢
202602	sp500	Canaccord Genuity Securities	Unmapped	3.9%	5.0%	4.0%	2.2%	18.00 ¢	18.95 ¢
202603	options	Dash Financial Technologies	Unmapped	24.4%	23.3%	24.2%	24.5%	33.10 ¢	29.76 ¢
202603	options	CITADEL SECURITIES LLC	CDRG	22.4%	23.1%	21.6%	22.7%	37.23 ¢	29.48 ¢
202603	options	Global Execution Brokers LP	Unmapped	21.5%	23.8%	21.3%	21.6%	40.28 ¢	29.32 ¢
202603	options	Jane Street Capital	JNST	15.7%	14.5%	16.7%	15.2%	28.22 ¢	26.88 ¢
202603	options	Wolverine Execution Services, LLC	Unmapped	7.3%	9.3%	6.8%	7.7%	52.78 ¢	32.82 ¢
202603	options	Matrix Executions, LLC / Simplex Trading, LLC	Unmapped	6.0%	4.2%	6.3%	5.8%	27.77 ¢	28.00 ¢
202603	options	WATERSHED	Unmapped	2.7%	1.9%	3.1%	2.5%	25.03 ¢	24.80 ¢
202603	other_stocks	Virtu Americas, LLC	NITE	25.8%	14.8%	15.2%	13.6%	17.97 ¢	16.63 ¢
202603	other_stocks	Hudson River Trading (HRT)	HRTF	19.5%	21.3%	20.9%	25.1%	17.96 ¢	16.48 ¢
202603	other_stocks	CITADEL SECURITIES LLC	CDRG	17.4%	18.2%	17.7%	29.3%	17.97 ¢	17.04 ¢
202603	other_stocks	GTS SECURITIES LLC	Unmapped	13.8%	18.3%	18.4%	19.7%	17.96 ¢	17.56 ¢
202603	other_stocks	Jane Street Capital	JNST	13.5%	13.6%	14.5%	10.8%	17.98 ¢	17.48 ¢
202603	other_stocks	G1 Execution Services, LLC	ETMM	6.8%	9.3%	8.7%	0.0%	17.97 ¢	17.71 ¢
202603	other_stocks	Canaccord Genuity Securities	Unmapped	3.3%	4.5%	4.6%	1.4%	17.95 ¢	16.69 ¢
202603	sp500	Virtu Americas, LLC	NITE	25.7%	14.6%	15.9%	14.4%	18.00 ¢	19.34 ¢
202603	sp500	Hudson River Trading (HRT)	HRTF	19.3%	21.4%	20.4%	25.6%	18.00 ¢	20.08 ¢
202603	sp500	CITADEL SECURITIES LLC	CDRG	16.9%	18.1%	20.6%	28.1%	18.00 ¢	19.41 ¢
202603	sp500	GTS SECURITIES LLC	Unmapped	14.6%	18.3%	18.9%	19.2%	18.00 ¢	19.94 ¢
202603	sp500	Jane Street Capital	JNST	12.9%	13.7%	14.6%	11.1%	18.00 ¢	19.72 ¢
202603	sp500	G1 Execution Services, LLC	ETMM	7.1%	9.2%	6.7%	0.0%	18.00 ¢	18.00 ¢
202603	sp500	Canaccord Genuity Securities	Unmapped	3.6%	4.7%	2.8%	1.6%	18.00 ¢	21.46 ¢

2. Venue Scorecards (Amended Rule 605)

Execution quality metrics for routed venues benchmarked against mix-adjusted competitors on identical symbols and size tiers.

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Month	Venue	Class	Notional × Lot	Fill Rate	PI Rate	NPI (bps)	Peer Bench (bps)	Coverage	Rank Pctl	Eff Spread	Speed <1s

3. Routing-Weighted Composite Quality

Implied execution quality achieved by the firm’s routing mix across the 24 amended size tiers, compared against the best and median competing venues.

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Month	Class	Notional × Lot	Metric	Firm Composite	Best Competing	Best Venue	Median Competing	Mapped Flow

4. Payment for Order Flow vs. Execution Quality

Addresses FINRA 5310.09 conflicts: comparing PFOF received (¢/100 sh) against net price improvement shortfall vs mix-adjusted peers.

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Month	Venue	Order Class	Route %	606 Net PFOF (¢/100)	NPI (bps)	Peer Bench (bps)	Delta (bps)	Ref Price	Delta (¢/100 sh)	Conflict Flag

Conflict Methodology Note: Quality delta (¢/100 sh) is estimated as Δ_bps × ref_price. A positive PFOF beside a negative delta indicates the firm received payment while the venue delivered less price improvement than competing market centers on identical symbols and size tiers.

5. Material Changes Since Prior Quarter

Changes in routing share (≥ 5 pp), newly added/dropped venues, and PFOF rate shifts since 2025Q4.

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No material shifts (≥ 5 percentage point route share or PFOF rate change) detected relative to 2025Q4.

6. Coverage, Exclusions & Standing Limitations

Mandatory regulatory disclosure of data availability, unmapped destinations, and methodological caveats.

Suppressed Cells

Cells with < 100 covered orders

Unmapped Venues

606 destinations without 605 match

Challenged / Missing 605

Venues missing monthly 605 report

Unmapped Routing Destinations:

Canaccord Genuity Securities (name:CANACCORD GENUITY SECURITIES), GTS SECURITIES LLC (name:GTS SECURITIES)

Standing Review Limitations:

A venue's Rule 605 statistics describe all flow it handled, not this firm's orders.
606 route shares are per order, not per share, and list only the top 10 venues plus any venue with at least 5% of non-directed orders.
FINRA Rule 5310.09 also requires the firm's own order-level review of its executions.
This report is not legal or compliance advice.
Net price improvement is in basis points of executed notional (quote midpoint × shares). The PFOF comparison converts the difference to ¢/100 sh at the venue's average executed price; it is an estimate.